The DIAN (Dirección de Impuestos y Aduanas Nacionales – National Tax and Customs Directorate) of Colombia has recently published Resolution No. 000096 of May 31, 2024, which contains an updated list of jurisdictions with agreements in force for the effective tax information exchange with Colombia. This update is crucial to maintain transparency and international cooperation in tax matters.
DIAN Update on Cooperating Jurisdictions
The list includes jurisdictions with which Colombia has established an effective tax information exchange to fight against tax evasion and avoidance. Among the jurisdictions highlighted are Hong Kong, Macao, the Bahamas, Qatar, Lebanon, and others. These jurisdictions have demonstrated a commitment to international tax transparency standards, which is fundamental for Colombia.
Countries with Information Exchange Treaties in force
The DIAN annually reviews the status of information exchange agreements in compliance with Decree 1625 of 2016. In the most recent resolution, 20 of the 37 jurisdictions previously considered tax havens could cease to have this category due to their effective cooperation in tax matters. Some countries are Antigua and Barbuda, Kuwait, Hong Kong, Macau, and the Cook Islands.
The listed jurisdictions are:
- Antigua and Barbuda
- Brunei
- Kuwait
- Qatar
- Western Samoa
- Grenada
- Hong Kong
- Cook Islands
- Macao
- Dominica
- Bahamas
- Bahrain
- Jordan
- Cape Verde
- Marshall Islands
- Liberia
- Maldives
- Mauritius
- Nauru
- Seychelles
- Vanuatu
- Lebanon
- Saint Kitts & Nevis
- Saint Vincent and the Grenadines
- Saint Lucia
- Oman
Benefits of Effective Exchange of Tax Information
The effective tax information exchange brings numerous benefits to businesses and tax administrations. Transactions with cooperating jurisdictions will not be subject to strict Transfer Pricing regulations and high withholding tax rates, thus fostering a more favorable and transparent business environment. It also strengthens international relations and contributes to greater global tax fairness.
For further details on cooperating jurisdictions and how these agreements can benefit your company, please refer to Resolution No. 000096 of May 31, 2024, available on the DIAN website. Get informed and take advantage of the benefits of effective tax information exchange!
Source:
- DIAN, “Resolution No. 000096 of May 31, 2024”.
